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Chinese venture capitalists warn IPO freeze will hit innovation

Chinese venture capitalists have warned the country's IPO freeze is starving tech startups of funds by keeping market participants locked into existing investments, undermining Beijing's current push to lift innovation in the economy. Venture capital firms said at the three-day ChinaVenture Investment Conference in Shanghai that they were struggling to recoup investment through the traditional route of initial public offerings. The rare public criticism of regulation at the high-profile annual industry summit comes amid increased official scrutiny of new listings aimed at reviving the secondary market by slowing the pace of public share sales.